Use our free vendor selection template to compare suppliers, evaluate proposals, score key criteria, and document your final decision in one place.
Choosing a vendor is rarely just about picking the cheapest option. You need to compare capability, pricing, service levels, risk, experience, contract terms, implementation approach, and overall fit.
A vendor selection template gives you a simple way to keep the process structured from the first supplier review through to the final recommendation.
Download your free vendor selection template now.
A vendor selection template is a document, spreadsheet, or evaluation tool used to compare suppliers during a buying or procurement process.
It helps you assess each vendor against agreed criteria such as cost, quality, experience, service, risk, compliance, delivery timescales, and stakeholder feedback.
Instead of relying on scattered notes, emails, or subjective opinions, a vendor selection template gives you a clear framework for making a more consistent and defensible supplier decision.
Vendor selection is the process of reviewing, comparing, and choosing a supplier to provide a product, service, system, or project.
It usually involves identifying potential vendors, collecting information or proposals, evaluating options, scoring suppliers, reviewing risks, and approving the final choice.
The aim is to select the vendor that offers the best overall fit for the business, not just the lowest price.
A vendor selection template helps make supplier decisions clearer and more consistent.
Once multiple vendors, stakeholders, prices, risks, and evaluation criteria are involved, it becomes easy for the process to become subjective or messy. A template keeps the decision organised.
It helps you:
A template is especially useful when procurement, finance, legal, IT, operations, or department stakeholders all need input before a vendor is selected.
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Our free vendor selection template is designed to help you compare vendors without building your own evaluation file from scratch.
You can use it for:
Download the template, add your vendors, define your criteria, record scores, compare options, and use it to support a clear supplier decision.
Download the free vendor selection template now.
A good vendor selection template should make supplier comparison easier, not more complicated.
It should include the information needed to understand how each vendor performs against your decision criteria.
The template should include each vendor being considered.
This gives you a clear list of supplier options and helps ensure every vendor is reviewed consistently.
Vendor contact details make follow up easier.
This can include the contact name, email address, phone number, account manager, or sales representative.
The template should describe what each vendor is offering.
This helps you compare like for like and avoid confusion when vendors propose different packages, service levels, or delivery models.
Evaluation criteria are the standards used to compare vendors.
Common criteria include price, quality, experience, technical fit, delivery timescale, service model, compliance, risk, support, and contract terms.
Weighting allows you to show which criteria matter most.
For example, technical fit or compliance may be more important than price in a business critical supplier decision.
Scores help you compare vendors in a structured way.
Each supplier can be scored against the agreed criteria so the team can see how vendors perform overall.
A pricing summary helps you compare commercial details.
This may include setup costs, recurring costs, implementation fees, optional charges, discounts, assumptions, and contract length.
Risk notes help capture concerns about each vendor.
This could include financial risk, delivery risk, security concerns, compliance gaps, limited experience, or dependency on a single supplier.
Stakeholder feedback records comments from the people involved in the decision.
This is useful when procurement, finance, legal, IT, or business users all need to review the vendor options.
Decision notes explain why a vendor was selected, rejected, shortlisted, or put on hold.
These notes support approvals and provide a useful record for future reference.
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